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20121101
20121130
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CNBC 19
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English 19
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CNBC
Nov 5, 2012 12:00pm EST
guest thinks you should stay away from all u.s. stocks regardless. rob arnott runs research affiliates and is from pimco all asset funds. >> why do you think either one is negative for stocks? >> first, there are differences between a romney victory and an obama victory. but there are comal tis. whoever wins faces a daunting four years and inherits a bitter chalice. we have an addiction to debt financed consumption. obama clearly will want to continue to pursue the policy. romney may want to reverse it but may find it is politically impossible to do so. eventually you hit a greek-style wall. now that's a danger affecting both potential presidential victors. now the implication of that is how do we invest? >> that's the next question. >> most investors have the lion's share of their money tied up in main stream u.s. stocks and bonds, comparatively little invested in a third pillar. if the first pillar is stocks, participating macro economic growth. if kbrout is slow, which it will be then that pillar is week. if bond yields are negligible which they are that pillar is week. if inflation
CNBC
Nov 20, 2012 4:00pm EST
the looming fiscal cliff. he says failure to do so could pose, quote, a substantial threat to the u.s. economy. >> the realization of all the automatic tax increase and spending cuts that make up the fiscal cliff absent offsetting changes would pose a substantial threat to the recovery. indeed, by the reckoning of the congressional budget office, the cbo, and that of many outside observers. a fiscal shock of that size would send the economy toppling back into recession. >> but the fiscal cliff does not really worry my next guest. he describes it as the y2k of the moment. joining me now to explain is a well-known fed critic jim grant. he's founder and editor of "grant's interest rate observer." you say this is like y2k. no big deal. came and went. you're not worried about it. you say the markets aren't going to fret over it. >> i don't mean to be quite so dismissive. certainly my experience of problems that are most ventilated are the ones that are least menacing, in fact. the more you talk about something, the more it's likely to be discounted. we've done nothing but talk about the fiscal clif
CNBC
Nov 28, 2012 6:00am EST
. the obama administration saying that china's currency remains significantly undervalued, but the u.s. treasury department is now stopping short of labeling the world's second biggest economy a currency manipulator. the white house is expected now to send the congress a multi-billion-dollar request on the recovery from superstorm sandy. the storm caused an estimated $71 billion in damages in new york and new jersey, and some congressional aides saying the request for funding would likely be at least $11 billion. the move comes as canada gets close to its decision on whether to approve the transaction. the energy companies say discussions with the committee are still in progress, and of course they had to file approval because they have extensive operations in the u.s. gulf of mexico. >>> "the wall street journal" reporting that virtue is emerging as the frontrunner to buy knight capital. they would possibly sell off parts of that business. finally, we can't get away from the story of twinkies. the bakers union of hostess brands wants a bankruptcy judge to appoint a chapter 11 trustee
CNBC
Nov 20, 2012 9:00am EST
's going on in defense. also, regardless of the fiscal cliff there's cuts. the u.s. government is the world's biggest buyer of software associated with the running of any kind of government. that's another kind of corollary here. a big comment from a lot of people in the defense industry about that yesterday. i think they're the first company to come out and make realistic expectations of what will happen in the next couple of years. back to you. >> okay. thank you. dave cote is the head of the curve on all of this. let's shift to bonds and dollar. rick santelli at the cme group in chicago. rick? >> thank you, jim. everyone is excited about good housing numbers. everybody but the fixed income market. everybody but the equity market. i know there's an hp issue here. however, let's look at the charts. let's put up a two-day chart of tens. clearly you can see we're up about a basis point on the day. if you look on the right side of the chart and look around 8:30 eastern, you can't pick out that we had a good housing number. if you really switch this around a bit, you look at the shorter mature
CNBC
Nov 23, 2012 12:00pm EST
. >> but the question is what your long-term outlook is. if you're betting against u.s. growth, betting against -- or betting there will be a huge issues in the coming years on these -- on the deficit issue, you may want to keep it off the table. >>> there's a third area there. i don't talk to anybody, steve or our guest, who doesn't think the u.s. can easily ramp up growth. the real discussion i don't think is the true u.s. economy. i thinkist the moguling being throw in front of it, our self-inflected issues, you know, last time around we sequestration. are we going to have sequestration 2? of course we'll put a band-aid, but we need leverage to have reform predicated to surrender on the band-aid. >>> we've got to go, guys. i've got to go with this. we've got to move on. this is the last hour of trading, so we've got to move here. thank you for your thoughts today. steve, thank you, you're voting on a committee of politicians. i find hope in that somehow. >> yeah. you're in the hopeful camp. >> hoping at the last moment they will do the right thing. >> was that a pig that just flew by? the ma
CNBC
Nov 5, 2012 6:00am EST
. it is all about the u.s. this week. the tone for the most part has been negative this morning as you can judge from the red behind me. yes the uk pmi data came in weak, points to the country potentially in contraction territory despite the better gdp figures. some concern about greece. investors seem to be standing on the sidelines until a lot of these issues are resolved or at least there's more clarity. this follows reports over the weekend that some of the ways in which spanish banks borrow at cheap rates may not have been legal. the ecb says it's exploring the issue. one of the companies weighing on the foot city, hsbc which has said it is provisioning $1.5 billion against the laundering charges. group profit slightly disappointed investors. shares down 1.4% as a result the there. but that's really it in terms of the major corporate news. ubs going through a bit of a shake up. the bond wall expresses more of the mood we're seeing on the eve of the u.s. elections here. it's a rotation out of the periphery into the core. the gilts are benefiting. spain, italy seeing yields a little hig
CNBC
Nov 5, 2012 9:00am EST
's number two. third one of course is u.s. election. this is where some of the problems is. have you noticed german bonds today moving on the upside rather aggressively. u.s. bonds moving on the upside. that's all this stalemate concerns out here. that's all i heard this morning. that's all i heard over the weekend. the likely outcome is a stalemate no matter who wins on the fiscal cliff. obama will have to compromise. romney will have to compromise. what's the best hope for the industry and business right now? best hope is a last-minute deal to postpone tax cuts for yet another year, which could in fact go into the first quarter of negotiations. some of the people are more optimistic it will happen before that. some are not. that's why we get bonds moving to the upside right now. jim, i noticed that you mentioned the deal this morning with kbw. it's a symptom of what's going on in the friday overall. this was the big topic of the day. those who didn't hear, they are buying kbw for no premium. we're talking 6% premium. the stock was 16. offering 17 and change. that's no premium out there. th
CNBC
Nov 21, 2012 4:00pm EST
that are interested. and we have financial players that are interested. we have international interests as well as u.s. and domestic. >> i'm not sure if you heard the last interview, but we spoke with one of your union members from the bakers union. he basically said, look, you can't negotiate with terrorists, and they were stealing our pension. in retrospect, was there an area where you could have given to keep some of these union members happier? >> well, you know, it's interesting. i think, you know, i came on board in february after the bankruptcy filing to try to get the company out. and i would readily admit, i think there's a lot of bad history here and a lot of places to point the finger for blame. i don't spend a lot of time doing that because that's sort of like bayonetting the dead in the battlefield. if i could look back, i would say i think there were management mistakes. i think there were union mistakes. as a turnaround guy, i think it should have been done prefiling. these parties negotiated all last year and never got anywhere. i think in retrospect, you could always do different thin
CNBC
Nov 5, 2012 4:00pm EST
softer condition and background in europe politically. and i think improving conditions here in the u.s. for the consumer and for manufacturing and for gdp in general. our general background is pretty positive. >> great points there. sandy, what about you? you say regardless of who wins the election, the fiscal cliff would be either downsized or deferred. what does that mean? >> well, i think downsizing is more likely. have you to factor in the hurricane as well because that's going to be a half a percentage point decline as well, coupled with, you need to get that fiscal cliff down to 1% or maybe 0.5%. i think the downsizing has to be pretty substantial. they're either going to have to defer it to the new congress and either a new administration or the existing one, but they've got to get it downsized pretty substantially pretty quickly. and it's going to require, because of that gridlock we're going to have again, a bipartisan concurrence. that's going to be the test in 2013. >> chris, what do you think? how do you want to invest with $1.5 billion under management, how are you allocat
CNBC
Nov 5, 2012 1:00pm EST
the costliest u.s. catastrophes. forecasting a cost between $10 billion and $20 billion worth of insured losses. the final tally impacted by, among other things, power in the transportation grids. as for the insurance industry with over $500 billion in capital it can pay expected claims. at last year's premium increases and a decline in catastrophe claims bulked up their profile. deutsche bank claims it could trim earnings by 36% but it could also help insurers later giving them cover to raise premiums. back to you. >>> sandynjrelief fund.org. mary pat christie is on the news line with us right now. welcome. good to have you with us. >> thanks, tyler. >> at some risk, i ask how are you and the christie family holding up? your husband and you have both then tireless this last week. gout to be pretty tired these days? >> we're doing pretty well. it's all relative, right, tyler? we don't have power yet but hopeful that we will soon. i'm also hopeful that our children get to go back to school tomorrow. >> we're in the same boat and expected to go back to school in my town montclair some time on wed
CNBC
Nov 21, 2012 9:00am EST
eight years of the weakest growth in u.s. history. so, he needs a deal so that the next four years are better than the last four years. >> we'll see. obviously, still the opening days of this process. charlie, the fed chairman in new york yesterday referring to these talks, reiterating how important it is they get done. he coined the term, fiscal cliff, "the washington post" today says. also adds that the evans rule is an area they continue to look into. fallout today from what he said yesterday? >> ilgt bit but that will happen. the market will be going up and down on small indicators. is john boehner smiling or frowning today? we'll have a lot of volatility for the next two or three months because i do think it's going to be two or three months. i think this is going to go into january. i think close to a 50% chance we'll go over the fiscal cliff temporarily. the market won't react well to that so it's going to be very, very bumpy couple of months here. >> that said, seasonally, i was told not too long ago, the period between thanksgiving week and december 3rd, the past 20 years
CNBC
Nov 1, 2012 6:00am EDT
died in the u.s. as a result of sandy. most of them from new york and new jersey. still 5.6 million customers in the dark. and it may be ten days before the hardest hit areas sea power restored. more than 19,000 flights were canceled because of sandy, but stranded passengers have something to be thankful for. newark and jfk airports were back in business yesterday and delta and american airlines are scheduled to resume a limited number of flights out of laguardia in about 30 minutes. the mta is also getting back to business with new york city subways offering limited service starting today. the m tcta is waiving all fees until tomorrow. so good news there. >> we're looking for any good news so thank you. the eye of hurricane sandy has hit the jersey shore hard. it wiped away entire economies. president obama surveyed the damage with chris christie yesterday. this morning kayla tausche is in toms river, seaside heights. what's it look like there? >> reporter: it's very dark here. we're at the mouth of the bridge which leads over to sea sooid heights, a road only accessible by emergen
CNBC
Nov 23, 2012 9:00am EST
europe and still a lot of opportunity in the u.s. growing tj max and marshall's and home goods in some smaller markets that they hadn't originally thought they could go into. definitely still think there's room there. >> jennifer, you cover saks as well. do the shorts have something to the story? do they know something that maybe we don't? >> saks did see a slowdown. part of it was related to superstorm sandy. a little over 20% of their business is done in the new york store. i would say 40% of sales are in the northeast. they have been impacted by that. also, you know, i think that maybe we're seeing a little bit of a pause maybe at that high end. maybe kind of more the aspirational customer at the high end. so i think that they're seeing a bit of a slowdown feeling a little bit more than maybe some of their peers that have moderately priced items. >> thank you for joining us. we appreciate it. >>> walmart facing union organized protests at some locations across the country this black friday. among the protesters, some employees walking off the job. hampton pearson is at capital plaza
CNBC
Nov 1, 2012 9:00am EDT
when the u.s. is screwing up in europe. >> honda's spending 200 million to make some transmission plans in ohio, they're trying to make north america their main base for manufacturing. >> talk about japanese companies, though. >> panasonic. >> panasonic has a $12 million write off. >> it has to be sharp, sharp, sharp. and they have concerns about their ability to operate as a going concern. they're looking at investments from on high. the china protests are going to work out. >> this is as much as a stiff today, it's a 30-year low. >> these are huge companies, the vhs, beta max work. that's a good point actually. >> these are all the leaders. these were all the leaders that you think about. >> i remember when there was a period in 1998 and 1999 it was a question of who was going to rule the world, panasonic or sony. >> look, we were talking about japan, we'll see whether that proves to be correct. >> now they're nothing, now they're no wrrks now they're dinosaurs. >> we're not saying that apple's going to be sharp. if you think about what you know from the past-- >> is japan off the gri
CNBC
Nov 27, 2012 12:00pm EST
in accounting rules between the u.s. and european standards? what about all of things that happened in between the purchase and now? how can you attribute everything you raise as issues to things sprung on you ahead of time? haven't you been running this business for the past several months? >> john, meg whitman is under enough fire if you will because of the recent performance of the company. it doesn't show any signs of a turn-around since she took over. this is another thing she has to answer to, not only the fact she voted to approve the autonomy deal, and now she's the ceo of hp and these accusations thrown back at her from mr. lynch. >> absolutely. meg whitman is not projecting a turn-around for this fiscal year saying she expects to see that in 2014. there's a number of revenue declines and nonexistent margins in a number of businesses throughout the fiscal year. she's in the thick of a turn-around. this controversy all autonomy did not help. >> is there any reason to give hp a look? >> i don't think so. i mean, you've got to get rid of the entire board and meg whitman, i don't think ge
CNBC
Nov 2, 2012 7:00pm EDT
their supporters out to vote, business, u.s. chambers doing exactly the same thing for the republicans. we're going to know on tuesday which side was more successful, larry. >> all right. john harwood. many thanks for that. >>> now president obama and mitt romney are crisscrossing the country in these critical final four days. obama's going to visit colorado, iowa, wisconsin, ohio, virginia, new hampshire, and florida. and an almost identical tour for romney excepts he swaps florida in favor of, get this, pennsylvania. very interesting. now you're going to be looking, there it is, live pictures of westchester, ohio, where a mitt romney rally is under way. tens of thousands there, and lines to come into the rally stretch out for six blocks. this is interesting. does team romney see an opening there? let's talk here now is democratic strategist robert shrum, columnist for "the daily beast" and ed rogers, republican strategist and former bush 41 deputy assistant. gentlemen, welcome back. >> good to be here. >> i want to begin with this thought. not the jobs thing. the jobs thing is too inconclusive. w
CNBC
Nov 2, 2012 2:00pm EDT
that are here. as mandy told you, the u.s. dollar rallied. that makes more qe less likely. some disappointment with the payroll. some of the numbers were a little bit on the squishy side. weak hourly earnings and average hours worked. for example. then there is the political slant, a lot of people have argued that president obama wins, the favorable jobs report makes it more likely. i think the aftermath of sandy very powerful and affecting certainly new yorkers more than a lot of people anticipated. i'll stick with the dollar story. if you look how the market is reacting, the two sectors that are most dollar sensitive are notably the weakest sectors today. that tells you these are commodity based, materials and energy. that tells you that that dollar strength has had an impact. techs and financials also to the weak side. finally, if that doesn't impress you, the gld, your major exchange traded fund for gold. it is one-tenth the price of gold here, moving down sitting essentially at a multi--month low, at least a two-month low. mandy, what gets your attention, volume is truly heavy here. headi
CNBC
Nov 20, 2012 1:00pm EST
that the q & a session with the u.s. attorney for the southern district has just begun. their prepared comments just finished. we heard from both berrera and s.e.c. enforcement chief rob kuzami as well as april brooks of the fbi. trying to use this case, tyler, very much as a warning shot, essentially saying if you are considering doing insider trading or cheating in any way, think better of t one of berr a berrera's best, most memorable comments is if you are going to pursue ill got gains the only place you may be able to spend your profits is at the prison come mistary. they talk about the unlevel playing field created allegedly when the hedge fund in question at the behest of this defendant, a matthew mar tomy marks who was arrested this morning, essentially traded out of pharmaceutical companies they had amassed positions in because they got early information about a drug trial that had not gone well, resulting ultimately in these quarter billion in profits. one thing absent from this commentary was any detail hot quote unquote hedge fund owner was mention noticed federal complain
CNBC
Nov 1, 2012 2:00pm EDT
here we are, midway on this investment, trying to convert the u.s. system an we're facing sequestration. massive cuts for the faa. the inability to actually even run the system like we're used to having it run on a good day in the current arrangement. so we really could avoid this, you're dead right to be really fired up about it. >> how do we get private investment in this area? is it difficult to get them involved? >> i think they have to be confident that in fact the faa is going to deliver on both the satellite transponders on the necessary digital investment, and then what you have is that the airlines themselves, and a number of other kinds of private investments, are likely to come in, but they do want to believe that the federal government can keep their commitments and keep this on track. that's what this whole issue of sequestration has put a big question mark in front of everyone, because no one knows what's going to happen next year an what kinds of deficits we may be running in this kind of vital investment in our infrastructure. >> it seems, marion, that people don't reall
Search Results 0 to 18 of about 19